Worldox can Improve Document Accessibility
What is Document Management System(DMS) and why is it valuable to small and medium sized businesses?
Many small and medium sized businesses that do not use DMS can and will experience issues with document retrieval and reuse. A recent estimate showed that 15% of all documents are misplaced and in some environments up to 30% of the workday is spent searching for information.
Have any of these situations happened?
- Wasting time and staff resources on looking for a document?
- Struggling to make one team member’s documents available to another?
- Recreating important content because it cannot be located?
- Opening documents simply to understand what they contain?
- Trying to figure out which version of a document is authoritative or who owns it?
- Losing documents because they’re not labeled consistently?
- Struggling to control who can see or edit your documents?
- Wasting time and money backing up obsolete files?
- Wasting time trying to track who viewed or edited a document?
Without effective and consistent ways of managing your documents, firms can find it harder than it should be to address problems like document retention and compliance. Perhaps worst of all, opportunities are missed – either because the firm cannot identify them or because the firm cannot respond quickly enough.
Studies have shown that 80% of a company’s knowledge is stored as unstructured data, such as documents. By implement a DMS system, you add structure to this unstructured data making it easier to access and use. Document management systems address the three major problems: organization, control, and access.
With a Document Management System in place, you can get more done, more effectively, at lower cost and in less time. You can reinvest those resources for revenue generating activities.
Some of the key benefits of a DMS system:
- Client/Matter-Centric Approach – all documents are stored by matter or project
- Avoidance of human error – the underlying file system is no longer exposed to users
- Control over document access – all activities related to a document are recorded in an audit trail
- Greater speed of document retrieval – find documents by name, number, author or other information
- Full profile and text indexing – find documents using the test within the document
- Check-out/check-in of documents – protect a document from changes
- Email integration – file email messages with regular documents
- Version control – Save up to 99 versions of a document
- Archiving of obsolete documents – adhere to document retention policies
- Document viewers – view documents even if you don’t have the associated software
- Ethical Walls – prevent users that should not see certain documents from seeing them
A DMS System also simplifies control, management, and access of your documents through a consistent and clear interface. Including sharing of documents and improving on document security.
To learn more about the Worldox DMS, please contact us at 647.426.1004 for more information or to have any of your questions answered. We would be happy to set-up a demonstration for you to see the benefits and savings that can be gained from the implementation of a DMS system in your firm.